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RoundPoint Mortgage Lender-Placed Insurance Settlement

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Case Summary: 

RoundPoint Mortgage Servicing Corporation has agreed to refund money to borrowers to settle a class action about lender-placed insurance (LPI, also known as force-placed insurance). Mortgage lenders require that homeowners have an LPI policy when the homeowners’ insurance lapses or when the homeowners’ policy is not considered acceptable to the lender. The lender places the policy and pays the premiums, then charges the borrower. The complaint for this class action alleges that RoundPoint was getting unauthorized profits from the placement of the insurance policies and that the premiums and/or the covereage were therefore higher than they should have been. 

Docket Number: 
1:17-cv-23307
Company: 
RoundPoint Mortgage Servicing Corporation
Class Period: 
Thursday, November 1, 2012 to Friday, October 12, 2018
Filing Deadline: 
Monday, May 13, 2019
Objection Deadline: 
Tuesday, February 12, 2019
Exclusion Deadline: 
Tuesday, February 12, 2019
Final Approval Hearing: 
Thursday, March 14, 2019
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